The Goods and Services Tax (GST) is touted to be the biggest tax reform post-independence. It aims at merging most of the existing taxes into single system of taxation and to replace the complex indirect tax regime currently being administered by the Centre, States and Local Authorities. GST is not only a tax reform but a business reform and according to the study conducted by National Council of Applied Economic Research, if implemented in the true spirit, it would be a game changer, could boost GDP and the economic growth of the country. For the success of GST with all its laudable objects, it is necessary to understand GST and its implications and be ‘GST compliant’.
With this objective in mind, CAI, in association with the Institute of Chartered Accountants of India (ICAI), organised an Open House on ‘GST- Road Ahead’, on 22nd March 2017, at the CAI premise in Cotton Green.
The designated speaker from ICAI for this Open House was Shri. Rajiv Luthia, qualified Chartered Accountant and Advocate, who specialises in service tax matters and has delivered talks at various seminars. Most importantly, Shri. Luthia is also the co-complier of ‘Background Material on Model GST law’ and ‘Representation made to the Central Government by the ICAI on GST’.
This Open House on ‘GST-Road Ahead’ was extremely well attended, and much appreciated by the CAI members.